How property marketers can make use of rental exit surveys.
Do you have a marketing plan in place for current residents that aims to keep them renting in the community? When people leave, do you find out what spurred the decision and alter your property promotional campaign in response?
If you're how to get this information, it may be the right time for you to begin utilizing a renter exit survey. Surveys may indicate if there is a recurring problem residents have with your property, which you can then rectify through strategic Internet marketing tactics and perform a sort of damage control when necessary.
A recent article in Multifamily Executive reported these results from the third-quarter 2012 Multifamily Industry Trends Survey: Most unhappy residents who want to move out cite high rental rates (32 percent), community management factors (27 percent), community appearance (15 percent) and location (18 percent) as the most-common reasons.
Although you won't be able to move the location of your building, finding out that residents are unhappy with it could be motivation to edit your marketing plan and put extra emphasis on the positives of the area. Maybe it's not within walking distance of a downtown metro location, but you could promote the peace and quiet that may be associated with living in a more rural area.
The Multifamily Industry Trends Survey also showed that more renters are concerned with finding pet-friendly locations and community upkeep. Are you aware of what residents are looking for and hold most important in their rental property search? The current renter's exit survey may be able to indicate which features should be a priority in your next campaign.
How to Make and Distribute Your Property Survey
There are several interesting options you may consider when distributing a resident survey—why not find one and integrate it into your current marketing plan? If you rely on emails, how about including one in your next promotional blast? If you are trying to direct more traffic to your website, you could also add an easy-to-find survey link on your homepage and promote it through social media.
However, it may be difficult to get people to take part in your survey, especially if you are targeting residents on their way out. If this is the case, you may want to consider working with an online marketing consultant and/or offering an incentive—a small price to pay for a focused marketing campaign that can shine a light on how to make current and future residents happy.
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